| Wed 3 Aug 2011, 7:24 | | MMH - Miranda Mineral Holdings Limited - Update of business rescue application |
|
MMH
MMH
MMH - Miranda Mineral Holdings Limited - Update of business rescue application
in terms of section 131 of the companies act,71 of 2008 and further cautionary
announcement
Miranda Mineral Holdings Limited
(incorporated in the Republic of South Africa)
Registration number: 1998/001940/06)
Share code: MMH
ISIN:ZAE000074019
("Miranda" or "the Company" or "the Group")
UPDATE OF BUSINESS RESCUE APPLICATION IN TERMS OF SECTION 131 OF THE COMPANIES
ACT,71 OF 2008 AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement released on 26 July 2011 regarding
the business rescue application in terms of section 131 of the Companies Act, 71
of 2008.
The application had been set down for hearing on 2 August 2011.
Prior to the hearing, Miranda received notification that an application for
leave to intervene was launched by new applicants who claim that they are
shareholders of Miranda.
In light thereof the matter was not ripe for hearing and the parties (being
Miranda, Ronald Nel and the new applicants) agreed to the relief set out below.
De Vos J accordingly made an order as follows:
The applicants in the application dated 26 July 2011 are granted leave to
intervene in the application to place Miranda under supervision in terms of
section 131 of the Companies Act, 71 of 2008, between Ronald Nel, as applicant,
and Miranda, as respondent.
The proceedings are adjourned for hearing by, and the parties are granted leave
to approach the Judge President for the purpose of constituting a Court,
comprised of a Judge of this Honourable Court as assigned by the Judge President
to hear the particular matter, as contemplated in the definition of "Court" in
section 128(1)(e)(ii)(bb).
As a result, the hearing will be held on a date to be determined by the Judge
President, on application by the parties.
Further Cautionary announcement
Accordingly, and further to the cautionary announcement dated 26 July 2011,
shareholders are advised to continue to exercise caution when dealing in the
company`s securities until further information is provided.
3 August 2011
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 03/08/2011 07:24:45 Produced by the JSE SENS Department.
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